HSBC has appointed former UBS Executive Rami Hayek as its newest Senior Investment Head for central banks and currency reserve management clients in the Asia-Pacific (APAC) region, teaming with Michael Bevan.
HSBC has recently made news with its rather lackluster Q2 Forex volumes, which tanked -34% QoQ, largely on par with the rest of the institutional industry. UK-based HSBC is one of the largest financial providers worldwide, with Forex comprising the largest portion of its global business.
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The recent hire of Mr. Hayek to the APAC region underscores a wider commitment by other institutions to bolstering their personnel there – indeed, Mr. Hayek will team up with Michael Bevan, collectively managing the sovereign and public wealth funds in the APAC region.
Prior to HSBC, Mr. Hayek was the Managing Director, Head of Client Coverage – APAC at UBS for nearly two years. Before UBS, he also held senior management roles at Credit Suisse (Managing Director – Head of Distribution), Deutsche Bank (Managing Director – Global Head of Equity and Fixed Income), and Barclays (Global Head of Product Development).